Dining stocks turned down in early trading. As of the time of this report, JIUMAOJIU (09922) dropped 5.12%, trading at HKD 3.89; Hailunsi (09869) fell 4.66%, trading at HKD 3.07; CAFE DE CORAL H (00341) declined 0.13%, trading at HKD 7.896.
According to the Zhitong Financial APP, dining stocks turned down in early trading. As of the time of this report, JIUMAOJIU (09922) dropped 5.12%, trading at HKD 3.89; Hailunsi (09869) fell 4.66%, trading at HKD 3.07; CAFE DE CORAL H (00341) declined 0.13%, trading at HKD 7.896.
Goldman Sachs released a Research Report indicating that the same-store sales (SSSG) in the dining industry remained weak in November, with fluctuating demand. Regarding policy stimuli, the bank noted that more cities/provinces have introduced dining consumption vouchers, but it believes the impact varies by brand and region, and the companies covered have generally not seen significant uplifting effects. In terms of competition, the rivalry in the fast-food and coffee sectors remains fierce but stable in order.
China Securities Co.,Ltd. stated that since September, important meetings have continuously released clear policy signals to strive to achieve the annual economic and social development goals. Policies such as lowering the reserve requirement ratio, cutting interest rates, reducing mortgage rates, supporting local solutions to government risks, issuing special government bonds to supplement core tier one capital, using various tools to stabilize the Real Estate market, and increasing support for key groups have been successively released. With the strengthening of policy stimuli, the pro-cyclical dining chain is expected to benefit first from the improvement in expectations.